Nominee director and shareholder service
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In certain cases, Nominee Director and Fiduciary Shareholder Services are appropriate, or even mandatory, and the client may opt to use the services.
The owner of a company may choose to appoint a Nominee Director, in most cases, for the protection of his personal information or for reasons related to his company commercial activities.
Moreover, in some jurisdictions is mandatory to appoint a resident director to incorporate the company.
In other jurisdictions is recommended to appoint a resident director for accounting purposes.
The Nominee Director does not get involved in the running the company’s business, but his name will appear in the Registrar of Directors.
This name of the director will appear in the incorporation documents under the director details.
There is also a possibility to appoint the Nominee Director after incorporation of the company.
The owner has the power to manage the company business as normal, in general using a General Power of Attorney issued by the Director in his name.
Power of Attorney, usually legalized with an Apostille, grants the client right to act on behalf of the company, sign contracts, open bank accounts and to carry out a variety of activities.
Fiduciary Shareholder or a Nominee Shareholder is a person who holds an asset in his name for the benefit of another person. Usually the assets are represented by the company shares, when we are speaking about the corporate services.
In some cases, a Fiduciary Shareholder is need it to the corporate service provider to form the company on behalf of the client; to make the incorporation process possible without the visit of the client in the country where the company will be incorporated.
Generally, the Fiduciary Shareholder is the registered owner of shares held for the benefit of another person, the owner.
A custodial agreement, showing the Fiduciary Shareholder has no legal claim over the shares, protecting the beneficiary owner’s assets will be signed, called Declaration of Trust.